Data Retrieval Tool for Income-Driven Repayment Plan Application

data retrieval tool available
Extra security protections now allow borrowers to automatically transfer Tax Return Information into repayment applications.

The U.S. Department of Education today announced the IRS Data Retrieval Tool is now available for borrowers applying for an income-driven repayment plan. New encryption protections have been added to the Data Retrieval Tool to further protect taxpayer information. The IRS Data Retrieval Tool will return Oct. 1, 2017, on the online 2018–19 Free Application for Federal Student Aid (FAFSA®) form.

On StudentLoans.gov, borrowers can apply to repay their eligible William D. Ford Federal Direct Loan (Direct Loan) Program and/or Federal Family Education Loan (FFEL) Program loans under one of the four “income-driven” repayment plans—Revised Pay As You Earn (REPAYE), Pay As You Earn (PAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR)—for which they qualify.

Borrowers who choose to use the IRS Data Retrieval Tool to apply for an income-driven repayment plan will continue to benefit from the convenience of being able to efficiently transfer accurate tax return information into their income-driven repayment plan application, while the data remains protected from malicious actors. As an added protection, the IRS automatically will notify taxpayers by mail when their tax return information is accessed using the IRS Data Retrieval Tool.

The IRS suspended use of the Data Retrieval Tool in March 2017 due to privacy and security concerns. To address those concerns, the tax return information that will now be transferred will be encrypted and hidden from view on the IRS Data Retrieval Tool web page and on the online income-driven repayment plan application.

Additional information for applicants:

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